World Acceptance reports Q3 EPS $2.84, consensus $1.88

Reports Q3 revenue $137.75M, consensus $130.58M. The company said, “Gross loans outstanding were $1.40 billion as of December 31, 2023, a 9.9% decrease from the $1.55 billion of gross loans outstanding as of December 31, 2022. During the most recent quarter, gross loans outstanding increased sequentially 1.5%, or $21.1 million, from $1.38 billion as of September 30, 2023, compared to a decrease of 2.8%, or $44.4 million, in the comparable quarter of the prior year. During the most recent quarter, we saw an increase in borrowing from new and former customers compared to the same quarter of fiscal year 2023 as we took incremental steps to ease the historically stringent underwriting standards implemented in prior quarters. We also continued to improve the gross yield to expected loss ratio for all new, former, and refinance customer originations and will continue to monitor performance indicators and intend to adjust underwriting accordingly.”